Global Carbon Market Up Massive 83% on Previous Year

The global carbon market in 2008 grew faster both in terms of volume and value than estimated, dramatically bucking the current downturn which has depressed most global commodity trading. Overall, 2008 saw 4.9 billion tonnes (gigatonnes or Gt) of carbon dioxide equivalent (CO2e) change hands, up 83% on 2007, according to a recent report—Carbon Market Monitor —released by Point Carbon. Point Carbon is a world-leading provider of market intelligence, analysis, forecasting and advisory services for the energy and environmental markets.

“Even Point Carbon did not fully predict the extent of the dramatic expansion in global carbon trading. This overshoot of our original forecast is largely due to brisk EU allowance (EUA) trading in the fourth quarter and to high activity in the secondary CER market,” said Endre Tvinnereim, Senior Analyst and author of the report….. Full Press Release: Source